Unilever, a global consumer goods company, is set to invest $400 million over the next three years to establish a regional manufacturing plant for beauty and personal care products in the Salinas Victoria submarket of Nuevo Leon, Mexico. The move comes amidst rising local investment, as evidenced by a triple increase in new inventory supply between 2020 and 2022, leading to positive gross absorption year over year, and net absorption remaining positive despite the economic slowdown, according to SiiLA's Market Analytics.

The Salinas Victoria submarket presents an attractive location for new investment, as there is a high demand for industrial space and little or no outflow of tenants. Once new inventory is available, it is occupied quickly, indicating a robust submarket. Unilever's new factory, set to start operations in 2024, is expected to generate 1,200 new direct and indirect jobs.

Unilever's new plant has been designed to achieve Lighthouse status, an international recognition for factories that use state-of-the-art technologies to increase productivity and efficiency while significantly limiting their environmental impact. The company considers Mexico among the top ten most relevant countries in the world in terms of investment due to its key role in exporting Unilever's beauty and personal care products to over 25 countries worldwide.

Unilever has been present in Mexico since the 1960s and currently employs over 7,500 people. The company has 149,000 employees worldwide and operates over 400 brands in more than 190 countries.

For more information and insights on Mexico's commercial real estate market, please visit SiiLA or write to us at contacto@siila.com.mx.